NORTH AMERICA – Barentz International, a global distributor of life science ingredients, has entered into a definitive, written agreement to acquire Maroon Group, one of North America’s leading specialty distributors an acquisition that is expected to bring a series of synergies for both companies.
Maroon was acquired by a private equity firm CI Capital in partnership with the company’s management team in 2014. It is a supplier of life science ingredients and specialty chemicals focused on improving the quality and length of life. It provides products that help our customers meet their formulary needs and achieve sustainability goals.
Under CI Capital’s ownership, Maroon completed 11 add-on acquisitions, expanded from a regional distributor focused on coatings and adhesives end markets to a leading North American distributor serving multiple attractive end markets – increasing revenues by over 450%.
Today, the company serves more than 5,700 customers in the U.S. and Canada, distributing over 6,000 products from a diversified base of strategic suppliers.
“Both businesses share a commitment towards leveraging industry and technical knowledge to support our suppliers’ and customers’ business development.”Terry Hill – CEO, Maroon Group
“We are grateful to have had the opportunity to support Terry and the Maroon management team in executing Maroon’s buy-and-build strategy, which allowed Maroon to become a leading North American distributor of specialty ingredients and chemicals,” Joost Thesseling, Managing Director at CI Capital, said.
“We thank the Maroon team for their hard work, and congratulate them on a fantastic outcome for all of Maroon’s stakeholders. We wish them and Barentz all the best in the future.”
Maroon Group will continue to be led by CEO Terry Hill, who joined the Company’s board of directors in 2017, and assumed the CEO role in 2019.
Mr. Hill previously spent 30 years with Univar, where he served as Executive Vice President & Chief Commercial Officer, President of Univar US, and also managed ChemPoint, Europe, Asia Pacific, and Latin America during his tenure.
“With CI Capital’s support, Maroon transformed itself from a regional CASE and Plastics distributor based in the Midwest into the broad business it is today. Together, we have built a great company and we are gratified that Barentz has recognized the immense upside in the unique position we have,” Mr. Hill said.
“Maroon fits seamlessly into Barentz’ global product portfolio, and with leading industry experts and several specialized application laboratories, both businesses share a commitment towards leveraging industry and technical knowledge to support our suppliers’ and customers’ business development.”
Last month, Roquette appointed Barentz as its strategic partner to distribute pharmaceutical and nutraceutical products in the US.
Roquette highlights that this appointment brings its collaborative technical expertise to the US, where both companies will benefit from partnering to grow in the pharmaceutical market, according to Food Ingredient First.
In May, Barentz acquired US-based Ingredients Inc., a developer and supplier of high-quality ingredients to food and beverage, pet food and nutraceutical manufacturers.
Last November, Barentz acquired a majority shareholding in Czech Republic-based IMCoPharma, which is active in pharmaceutical ingredients.
This move gaves Barentz the licensing capability to do business with all pharmaceutical companies in the Commonwealth of Independent States region and Ukraine.
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